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S&P 500 cracks trendline

The S&P 500 penetrated its secondary trendline, indicating a correction to test support at the LT trendline at 2800. Shorter-term 21-day Twiggs Money Flow crossed below zero to warn of a secondary correction. Follow-through below the January high at 2870 would confirm.

Nasdaq 100 breach of 7400 would also confirm, signaling a correction to test support at 7000.

If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.

~ George Soros

I received a message from a subscriber, objecting to me using quotes from George Soros "because we all hate him." First, I don't believe that is true. Second, emotions such as hate have no place in rational discourse. Third, while I don't agree with everything he says, Soros has some incredible insights that are well worth sharing.

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